Equity Research Report Ways2Capital 26 March 2018

Last week, Bank Nifty Mar Futures made a low of 23631.20 and traded near to its 6 month low. It broke

Bank Nifty
Last week, Bank Nifty Mar Futures made a low of 23631.20 and traded near to its 6 month low. It broke the major psychological level of 24000 during the week and closed at 23710.15 with the overall loss of 3.65% on weekly basis. Technically it’s sustaining below the 200days EMA with the negative RSI & Stochastic and trading below the trend line breakout. For this week, we can expect further downside movement in it.
For this week, traders can adopt sell on higher levels strategy in it and below the level of Rs. 23630, it can test the level of Rs.23410/ 23205 during the week. Trades can make sell position in it by maintaining a Stop Loss of Rs.23630


Technical outlook:
Last week the benchmark index Nifty finally corrected below 10000 marks after some consolidation and traded near to more than 5 month low. We also witnessed some fresh short position formation in index futures segment on lower levels. On options front, 10000-10200 call options were active and they also added good amount of positions. On the flip side, we saw huge amount of open interest addition in 9900 put along with some build-up in 9700 and 9800 strikes.

Now, maximum concentration of open interest is placed at 10500 call and 10000 put options. Market may attract further selling if it breaks its next important support of 9950 otherwise it can give March expiry above 10000 marks.

For this week, traders can adopt sell on higher level strategy in it and below the level of 9960 it can test the level of Rs. 9820 & 9620 during the week. Trades can make sell position in it by maintaining a Stop Loss of Rs. 10051.

WEEKLY FUTURES: SELL NIITTECH FUTURES BELOW 864 TGT 848,SL 873

Last week niittech open in positive note but moves in negative trend in entire week and gives closing at 896.20. accrdind to technical analysis niittech break important suport level of 900 and it able to give closing below the important support level of 900 we can expect further downside trend in it
For next week taders can sell niittech below 864 with the tgt of 848 and sl of 873.



WEEKLY FUTURES: BUY TITAN FUTURES ABOVE 916 TGT 926 SL 910

Last week titan futures open at positive note and moves in positive trend entire week. According to technical analysis it break important resistance level of 900 and sustain above this level and give closing above major resistance level of 900 we can expect further upside movement in it
For next week traders can made long position in titan above the level of 916 with the tgt of 926 and sl of 910








NSE CASH : BUY INFRATEL NSE CASH ABOVE 345.1 TGT 349.10, 353.10, 355 SL 341.65

LICHSGFIN:
Overall trend of the share is bearish for medium-long term .Currently stock is in strong uptrend with good momentum and the trend is supported with good volume. Stock started the week with negativity on Monday but as the week past stock stared gaining the strength and closed on positive note with formation of strong buy pattern on daily chart. Candle Pattern shows some strength in buying as it has formed inverse H&S price pattern on daily.

For this week, traders can adopt buy on lower level strategy in it and above the level of 535 it can test the level of Rs. 549 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs. 524.95.

NIFTY FUNDAMENTALS: The week starts with mounting concern on ‘Trade War’ between the US and the China started showing concern over rest of the world. This was clearly a threat for traders’ community across the world, resulting into massive sell off in the equity market. Equity benchmarks ended at five month’s low at 9998, down 197 points or 2% due to the global equity sell-off. FIIs Index futures ‘Long Short Ratio’ also plunged from 47% to 37%, they continued adding bearish bets in index futures. Nifty P/E ratio was in the range of 24.38 to 24.76 for the past week.

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by Ways2Capital (23 days ago)

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